INSEAD Day 4 - 728x90

Company News

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

DEWA okays $843m in H2 2024 dividend

DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.

Business

DAE to acquire 17 aircraft for $1 bn

This portfolio comprises 100 percent next-generation aircraft

Business
Business

Xiamen Airlines to buy aircraft

The airline plans to buy 40 A320neo aircraft from Airbus.
  • The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
  • While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Business

Yahsat to pay $53.5m H1 dividend

The dividend will be paid by 14 Oct to all shareholders.
  • The Group said it is on track to deliver a total dividend of at least AED393.3 million for the full 2022 financial year.
  • The second and final dividend for 2022 is expected to be paid in April 2023.
Business

DEWA, Desolenator ink pact

Dutch firm will provide water desalination technology
  • The innovative design is intended to be 100 percent reliant on solar energy.
  • As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
Business

IHC acquires stake in Burjeel

The 15% stake in Burjeel will diversify healthcare investment.
  • IHC’s revenue grew by 121 per cent to AED21.93 billion in the first six months of 2022, compared to the same period last year.
  • The company invested AED7.3bn ($2bn) in the Indian conglomerate, Adani Group, and also acquired a 70 per cent stake in Arena, the global event structures and services company.
Business

Salik ups number of IPO shares

The subscription period for the IPO remains unchanged.
  • The Government of Dubai will continue to own 75.1 percent of Salik’s existing share capital.
  • Salik reported core earnings of $217.82 million in the first half of this year, compared with 637.41 million in the same period in 2021.
Business

Response Plus enters Indian market

The company will establish its Indian headquarters in Kerala state.
  • RPM India will work as a healthcare partner for onsite medical service solutions with oil and gas companies and other major industries.
  • It will provide services to Airports, Seaports, Educational Institutions, malls and global events to meet the emergency healthcare needs.
Business

Agthia to pay $17m dividend

The dividend is in line with its bi-annual dividend policy.
  • The company's H1 revenues reached AED 2 billion, up 51 percent year-on-year, and net profit grew to AED 118 million for the period, a 74 percent increase compared to H1 2021.
  • Agthia recently announced an AED 90 million investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical.
Business

Rosneft H1 net profit up 13%

The energy giant's H1 net profit rose to $7.2 billion.
  • Having processed 45.8 million tonnes of oil this semester, Rosneft said its debt decreased by 12 percent from the beginning of the year.
  • The company' revenues increased by 32.5 percent, reaching $86.7 billion.
Business

Thai SC dismisses Toyota appeal

The court dismisses appeal over $270m import tax bill.
  • The case relates to Toyota Motor Thailand's importation of parts for its Prius model at a reduced tax rate between 2010 and 2012.
  • While Thailand's Central Tax Court ruled in favor of Toyota in 2017, the decision was later overturned.
Business

Huge fine against Google upheld

The General Court, however, reduced the fine to $4.1bn.
  • The court "confirms European Commission's decision that Google imposed unlawful restrictions on manufacturers of Android mobile devices" in order to benefit its search engine.
  • The levy remains the EU's biggest ever despite Google's arguments that the commission's case was unfounded and falsely relied on accusations.

DEWA okays $843m in H2 2024 dividend

DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
Business

Company News

Ma’aden, BADC ink agreement

Agility posts Q2 earnings of $46m

RSG, Zain build carbon-neutral 5G network

TAQA H1 net income $3.67bn

Ma’aden Q2 revenues hit $1.86bn

Latest News

Eve Air Mobility, flynas ink MoU

The firms will explore starting eVTOL services in Saudi Arabia.
Business

Amazon releases AI chatbot

"Q" will be available only to the company's AWS cloud.

Foxconn to invest $1.54bn more in India

The firm announced in May to purchase land for $37 million in India.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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EasyJet rebounds into annual profit

Profit after tax stood at £324 million.
  • Profit after tax stood at $409 million in the 12 months to the end of September on higher demand and increased fares, EasyJet said
  • "We see a positive outlook for this year with airline and holidays bookings both ahead year on year," EasyJet chief executive said in the statement.

Fashion giant Shein to go public

Shein was valued at $66 billion earlier this year.
  • The company was valued at $66 billion earlier this year, and a public presence by the company in the United States could make huge waves on Wall Street
  • Shein recorded $23 billion in revenue and $800 million in net profit in 2022, Journal said reporting that firm has told investors it has posted new records in 2023
Business

Beltone 9M net profit at $2.7m

In 9M, the firm's restructuring led to a turnaround.
  • Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
  • The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.